Exactly. Crypto enthusiasts are slowly building up the traditional banking system, a couple million-dollar hacks at a time.

To paraphrase the first episode of https://podcasts.apple.com/us/podcast/two-and-a-half-coins/i... the banking world was already decentralized, so much that it’s inefficient and insecure. Crypto, at least part of the technology, is about simulating some sort of centralization by using a distributed database (which is resilient to byzantine faults). So banks can switch backbone for a more efficient and secure one, users don’t have to know or care about it.

> At that point, what's the purpose oF crypto then?

Rugpulls and ponzi schemes

That you can choose.